Wednesday , September 28 2022

Shell increases its presence in the Vaca Muerta petroleum window • EconoJournal


The Shell has informed the provincial government of Neuquén O & G Developments, a subsidiary of Royal Dutch Shell in Argentina (Shell Argentina) and Apco Oil & Gas International Inc. It has approved some cooperation agreements between the company. Vista Oil & Gas-Argentina Branch APCO). The Order was issued by decree 20197/18, published on Friday, 22nd.

In this operation, Shell Argentina bought Apco 18 km2 in Coiron Amargo Sur Oeste (CASO) equivalent to 35% of the rights of that block. In this transaction, Shell Argentina Aporiora transferred its rights to the Águila Mora area, with 90% ownership interest and the development of investment of $ 10 million.

As a result, Shell Argentina increases 80% in Coiron Amargo Sur Oeste (CASO) and continues to be an operator. Apco and Gas and Petróleo de Neuquén (G & P) distribute the remaining shares in equal parts of the area in 10%.

At the same time, CASO received a 35-year-old government from the province of Neuquén.

"Shell has a career in the growth of its oil and gas production business in the United States, Canada, and Argentina, with unprecedented reserves. The positive and positive results of well-drilled bulls in Vaca Muerta and early production were compared to other equity investments in the same class, Neuquén's unusual investment projects We will do it in our operated and unlocked blocks, "said Sean Rooney, VP Upstream Argentina and the local subsidiary.

At Águila Mora, Apco takes up 90% of all rights and becomes an operator, since G & P maintains a 10% stake.

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